News & Insights

The End and the Beginning: Year-End Reminders

December 18, 2017

SHARE :

As January approaches, medical practices are engaged in a flurry of activities including payroll reports, tax document preparation, holiday party planning and squeezing in last-minute patients whose deductibles and out-of-pocket expenses have been met. Here are a few things to keep in mind as 2017 winds down:

Check the Exclusion Lists
Remember to check the federal Exclusion Databaseupon hire and annually for all employees and providers in your practice. Any entity who hires or contracts with a person on the List of Excluded Individuals and Entities is subject to civil monetary penalties. These penalties are in addition to the return of any monies paid to the entity by Medicare, Medicaid and all other Federal plans and programs in which the excluded individual furnished, prescribed or directed services.

As a condition of participating in the Louisiana Medicaid program, providers must check the Louisiana State Adverse Actions List upon hire and monthly. Providers who employ or contract with excluded individuals or entities may incur penalties of $10,000 for each item or service the excluded individual or entity furnished.

Medicare Cards are Changing
A new Medicare Beneficiary Identifier (MBI) will replace the social security number based Health Insurance Claim Number (HICN). The new Medicare numbers will be distributed beginning April 2018. A transition period will run between April 1, 2018 and December 31, 2019. During this time, either number will be accepted on claims. Effective January 1, 2020, HICN numbers will no longer be accepted. For more information, click here.

Avoid a Medicare Penalty in 2019!
There is still time to participate in the Quality Payment Program for reporting year 2017. You can avoid a negative 4% penalty on all Medicare Part B payments by reporting on just one patient and you don't have to have an EHR!

Contact LAMMICO Practice Management Specialist, Natalie Cohen, MBA, MHA, at 504.841.2727 or via email at ncohen@lammico.com for more information on any of these topics or for a personalized consultation to help you avoid a penalty.

This is not legal advice, and is not intended to substitute for individualized business or financial judgment. It does not dictate exclusive methods, and is not applicable to all circumstances.